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Summary: One Man's Experiences in the Financial Industry
Comment: Michael Lewis details his short career on Wall Street working with Salmon Brokers as a trader (working both in the US and Europe). Lewis provides a description of the rise and fall of the mortgage bond market at Salomon Brothers as well his experience with other derivative markets. Included in the book are several outlandish incidents that went on behind the scenes at Salomon brothers. Many of the undertakings by the high net worth investment professionals will leave you taken aback as their actions show an often significant lack of any real viable market knowledge.
Beyond some revelations revealing the sophomoric attitudes of the investment professionals and a peripheral description of the financial markets, Liar's Poker offers little insight that one would not acquire by working as a temp at any major brokerage firm. Expecting to find a perceptive analysis on the financial markets, I was disappointed only to find a marginal account of the industry and some commentary on the author's personal experiences. Lewis is not a bad writer, as he proved to be witty at times, but the material becomes monotonous rather quickly.
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Summary: Liars Poker
Comment: Good book, just not the cult classic I heard about. If you're not into stocks, bonds, the market, etc it's not for you. I think the author was very humble abous his own success, but in the end I think the book itself is overrated.
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Summary: I feel out numbered by young naive, economic ignoramuses.
Comment: I am an experienced,well educated, retired, 63 year old entrpreuneur that is making a 20% return in this down market. I read a lot, but I have learned to read the 5 star and the 1 star reviews before wasting my most valuable asset, my precious time, and then buying a book like this. Look at the reviews if you are like me you will find that Michael(they'll never call him Mike) Lewis thinks this is a game not his future. After graduating from Princeton as an Art Major, ourl ittle micheal spent 2 years at Saloom Brother's as a flunky. Never mind, I too was a flunky for a small investment banker at his age while attending Univ. of Washington but then again I couldn't draw so I studied Samualson in Economics 101 and know why oil went from $147 to $42 in the last 6 months. Hint it has something to do with how prices are set at the margin. The lower reviewers called this author's opinion drival and a waste of time and these reviewers seem older, like me. But the book got the highest star rating I have seen, so now I feel out numbered by the young naive, economic ignoramuses who are a few years out of a liberal collage, who will miss the opportunity to see oil go back up soon and are head for a life of financial mediocracy and jealousy.
If describes you buy this book.
Meanwhile I am still looking for a worthwhile,rigorous read about the challenges for the Obama nation because in this market you can monatize real knowledge a sthe ignorant herds fear to double downat life's poker table.
I have two beautiful daughters who are also young and naive, but I hope they never date little michael. I have supported them for 25 year's and while they are working hard making it on there own, no one needs an anchor. Of course again maybe Michael will be the next Rembrandt.
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Summary: Leaves something to be desired
Comment: First half = interesting. Second half = kinda boring. Lewis has inspired me to write a better insider's account of Wall Street.
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Summary: Pretty Darn Interesting
Comment: This was a pretty good book because it tells you things that make you want to keep listening, it holds your attention. You will learn some things from this book. The only bad thing about this book that i didnt like was how the author occasionally went off on unusual/complicated tangents when describing things. The kind of sentences you have to read atleast 3 times.....but i still recommend it. FIASCO was also very good.
sayanora
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